Telia to Vote in Favor of $175 Million Turkcell Payout

Telia to Vote in Favor of $175 Million Turkcell Payout

Turkcell lletism Hizmetl... (NYSE:TKC)Historical Stock Chart

1 Month : From Aug 2019 to Sep 2019

By Dominic Chopping

STOCKHOLM--Telia Co. AB (TELIA.SK) said Wednesday that it has agreed, along with the other shareholders in Turkcell Holding, to vote in favor of Turkcell Iletisim Hizmetleri AS's (TCELL.IS) proposal to distribute dividends of 1.01 billion Turkish lira ($175.1 million) on Oct. 31.

Provided the proposal is approved, Telia's expected share of the dividends will be TRY243 million, corresponding to approximately 410 million Swedish kronor ($42.3 million) pretax and SEK389 million after tax.

Telia is the largest shareholder in Turkcell Iletisim Hizmetleri with a 24% indirect shareholding through its minority interest in Turkcell Holding.